Africa - Europe Alliance: EU supports investment and job creation in Ghana with €40 million

Africa - Europe Alliance: EU supports investment and job creation in Ghana with €40 million

28/02/2019

The programme supports the country’s national development framework, which focuses on jobs as a means to create prosperity and opportunity for all, contributing to achieve the Sustainable Development Goals.

On this occasion, Commissioner for International Cooperation and Development, Neven Mimica, said: “This €40 million programme shows how private investment can help deliver the Sustainable Development Goals. It will enable the Ghanaian government to accelerate the implementation of structural reforms essential for strong, inclusive and job-creating growth. A perfect example of the Africa-Europe Alliance in action”.

The programme focuses on the areas of business climate, public financial governance and employment. The main objectives of the programme are to promote domestic and foreign private investment, enable businesses to spearhead economic transformation and create employment, strengthen public financial governance and boost domestic revenue mobilisation as well as to fight against corruption.

The funds will be managed by the Ghanaian government and the programme is aligned with President Akufo-Addo’s vision of “Ghana beyond aid”, a long-term economic and social transformation strategy. This budget support operation (the so-called SDG contract) is an important lever to strengthen the business environment and the investment climate through regular policy dialogue and ambitious performance indicators.

The Ambassador of the European Union to Ghana, Ms Diana Acconcia, and the Ghanaian Minister of Finance, Ken Ofori-Atta signed the contract in Accra.

 

Background

The EU cooperation with Ghana is being adapted to the needs of an aspiring middle-income country, which faces challenges to deliver basic social services and build institutional capacity. For the period 2014-2020 EU support amounts to €323 million and has 3 priority areas: governance, agriculture and employment and social protection.

 

For more information

Delegation of the European Union to Ghana

EU cooperation with Ghana